In connection with the planned listing by way of introduction of Premiere Georesources and Development, Inc. (PGDI), formerly Redstone Construction and Development Corporation (RCDC), a subsidiary of Premiere Horizon Alliance Corporation (PHA), and the attendant SEC guidelines requiring a minimum public ownership of 20% for companies applying for listing, PHA is pleased to announce that it has completed the private placement of 523M PGDI shares owned by PHA, representing 9.6% of PGDI’s 5,454M outstanding shares.

As a result of the private placement, PGDI will have a public ownership of 23.5% upon submission of listing application. The strategic ownership will be at 76.5% consisting of PHA at 54.7%, and other strategic partners at 21.8%.

The private placement was done at a price of Php0.20 per share, corresponding to a PGDI market valuation of Php1.1B.

The transaction closing documents shall subsequently be executed by the concerned parties and will be disclosed as soon as completed.